My wife an I contributed to our Roth IRA in 2025 but our AGI is over the limit. So I did what was suggested in the reply to my original question. I withdrew the excessive contribution from each of our accounts totaling $15,000 plus the earnings. I entered the 20261099-R as instructed since I have not filed yet using J and P in Box 7. I thought if I did this then the 6% excessive penalty would be removed and I would only pay taxes on the earnings plus an early withdrawal penalty. I see the taxes on the earnings but I also have the $900 ($15,000 * 6%) of excess contribution penalty. I am trying to understand why TurboTax is calculating the penalty if I entered the the withdrawal 1099-R before filing my 2025 taxes.
